Local Company Pays Minor Fine to Insurance Commissioner

Washington State Insurance Commissioner Mike Kreidler took disciplinary action in July, August and September against insurance companies, agents and brokers who violated state insurance regulations. According to a summary of cases, a local title company received a small fine for a minor infraction.

Olympic Title of Mason County LLC, was fined $250, (order 19-0188). The company failed to timely file its Title Insurance Agent Affiliated Business Ownership Report. The Insurance Commissioner also fined Olympic Title of Kitsap County LLC $250 for the same infraction (order 19-0189).

A total of 45 insurance companies, agents, brokers and title companies were fined during the third quarter of 2019. The largest fines were $100,000 which went to Dental Health Services of Seattle and Loyal American Life Insurance Co. of Cincinnati, Ohio.

Kreidler’s office oversees Washington’s insurance industry to ensure that companies, agents and brokers follow state laws. Since 2001, Kreidler has assessed more than $28 million in fines, which are deposited in the state’s general fund to pay for state services.

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